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Ibec Calls For Increased Investment Spending To Match Government Goals

Published on May 12 2016 10:17 AM in Retail tagged: Trending Posts / Ibec / Irish Government

Ibec Calls For Increased Investment Spending To Match Government Goals

Ibec has commented on the newly published Programme for Government, saying that the goals listed in it will need to be matched by increased investment spending commitments.

It adds that achieving this will need a greater level of ambition from government, as well as a new deal in Europe to allow for more flexibility in the application of EU fiscal rules.

Ibec CEO Danny McCoy commented, "The Programme for Government sets out a range of important commitments in areas such as enterprise, education, housing, investment and regional development.

"Together these will help address some pressing concerns, improve the business environment and support long-term economic growth. It is vital that these objectives are matched with firm spending commitments."

He went on to explain that the Government will need to seek more flexibility from the EU on the application of fiscal rules so that it can significantly “ramp up” investment expenditure.

"Irish business supports a sensible rules-based approach to the management of day-to-day spending and taxation, but spending on vital capital investment projects should not be curtailed."

McCoy concluded by calling on political parties and TDs across the spectrum to make sure that the dynamic of a minority-led government doesn’t get in the way of ambition, and lead to "unhealthy policy compromises".

"The reliance of the government on the support of independent TDs and Fianna Fail along with the additional obstacles to securing parliamentary support for legislation will undoubtedly create difficulties when it comes to agreeing and implementing coherent government policy. However, they must not result in important decisions being postponed or ignored."

© 2016 - Checkout Magazine by Jenny Whelan.

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